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Japan: policy signals and currency intervention risk

  •  Bank of Japan Governor Ueda signaled he expects further rate hikes as inflation rises.
  •  Finance Minister Katayama said the ministry is committed to responding appropriately to currency moves, a clear reference to possible intervention as the yen trades near multidecade lows.
  •  Market pricing: traders assign only about a 25% chance of a BOJ rate increase before the December meeting, reflecting skepticism about near-term tightening.

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